07 Jun 1921
Page 1
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Newspaper
Braidwood Review And District Advocate
Location
Braidwood, New South Wales, Australia
Date
Jun 07, 1921
Page
1
The editor notes a half year balance showing profits over £400000 with a 10 percent dividend, a large officers’ bonus, and transfers to reserve funds. The bank chairman says the bonus is exceptional, not permanent, while customers with overdrafts and mortgages are urged to reduce them to avoid further trouble.
Analysis argues banks prioritize profits over national development. It condemns private enterprise banking in Australia and calls for a development-focused state bank or national bank to prevent foreclosures and support primary and secondary industries. It urges NSW Rural Bank to avoid orthodox lines and stresses a moratorium to protect farmers and graziers.
In Central Queensland the Mines Minister Jo dus orders closure of Boutala Stabe coal mile after Barwaba workers halt day output. They report eight foot long soln on trucks and claim 25 101 a ton. Production stopped at cob tie as crews prepared for the next shift.
A compulsory conference between representatives of the juristuralsists and the A.W.G. has been called for Thursday next in Melbourne to fix wages and conditions in the shearing industry.
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